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SOL-borrowing states


RSB
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Texas has a borrowing statute. If you've lived there for 1 year, you get the best of both worlds. Shortest SOL of current or previous state applies.

Please help me understand my situation better. I opened my credit card accounts in Texas, in 2000. I moved to Washington about 7 months later, 2001. I am still living in Washington. I defaulted on the credit cards in the summer of 2003. The SOL is 3 years in Washington, and 4 years in Texas.

The accounts have been SOL for several months in my current state, of WA.

The accounts will not be SOl, according to Texas law, until August 2007.

So, being that WA has a shorter SOL that TX, my credit card accounts are SOL in both states.....right?

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I have the same question. I lived in NC and my cards have been charged off (SOL is 3 yrs in NC) and now I live in NJ (Sol is 6 yrs in NJ). which state's SOL applies to me now?

Thanks in Advance

LOL you did it backwards.. don't most people from Jersey move TO NC? I know that and NY are where most of my neighbors are from

I BELIEVE that the SOL for you would be NJ since it is the state you currently reside in and that is where they would file suit..IF I am wrong I am sure someone will chime in but I was always told its the state of residence.

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  • 2 weeks later...
typically if the NC SOL ran out while you lived in NC, then that would be the end of it. but if you moved to NJ before the SOL ran in NC, you are now subject to the NJ SOL.

The SOL did not run out when I lived in Texas. The credit cards were current and paid on time while I lived in Texas, and when I moved to Washsington, too. I did not default until after being in Washington, for two years.

So, WA SOL applies and not TX SOL law?

thanks.

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